Norges Bank Takes Position in Keurig Dr Pepper, Inc $KDP

Norges Bank bought a new stake in Keurig Dr Pepper, Inc (NASDAQ:KDP) during the 4th quarter, HoldingsChannel reports. The fund bought 20,291,351 shares of the company’s stock, valued at approximately $568,361,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Keurig Dr Pepper by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 160,958,816 shares of the company’s stock valued at $4,508,456,000 after acquiring an additional 1,538,456 shares during the period. State Street Corp increased its stake in Keurig Dr Pepper by 1.6% in the 3rd quarter. State Street Corp now owns 64,594,706 shares of the company’s stock worth $1,662,361,000 after buying an additional 986,700 shares during the period. Geode Capital Management LLC increased its stake in Keurig Dr Pepper by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 31,802,056 shares of the company’s stock worth $887,021,000 after buying an additional 1,187,457 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Keurig Dr Pepper by 0.9% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 20,558,966 shares of the company’s stock worth $524,459,000 after buying an additional 182,341 shares during the period. Finally, Bank of America Corp DE increased its stake in Keurig Dr Pepper by 8.8% in the 2nd quarter. Bank of America Corp DE now owns 11,231,214 shares of the company’s stock worth $371,304,000 after buying an additional 904,585 shares during the period. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Price Performance

Shares of Keurig Dr Pepper stock opened at $30.03 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.31 and a quick ratio of 2.12. Keurig Dr Pepper, Inc has a 1 year low of $24.88 and a 1 year high of $35.94. The firm’s 50-day moving average is $27.63 and its two-hundred day moving average is $27.99. The stock has a market cap of $40.86 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 1.37 and a beta of 0.41.

Keurig Dr Pepper (NASDAQ:KDP) last issued its earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $7.23 billion. During the same period in the prior year, the business earned $0.42 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, research analysts expect that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, June 26th. Keurig Dr Pepper’s dividend payout ratio is presently 68.15%.

Analyst Upgrades and Downgrades

KDP has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price target on shares of Keurig Dr Pepper from $40.00 to $37.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Weiss Ratings raised shares of Keurig Dr Pepper from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. BNP Paribas Exane raised shares of Keurig Dr Pepper from an “underperform” rating to a “neutral” rating and set a $28.00 price target on the stock in a research note on Wednesday, April 22nd. Zacks Research downgraded shares of Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Citigroup reduced their price target on shares of Keurig Dr Pepper from $37.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.57.

About Keurig Dr Pepper

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.